By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Insurance firm, Sovereign Trust Insurance Plc on Tuesday announced its pre tax profit went down 82.7 percent to N274.859 million in its audited year end 2013 from N1.585 billion recorded in 2012.

Similarly, post tax profit dipped 76.5 percent to N346.930 million from N1.476 billion reported in the corresponding period of 2012.

However, gross premium written climbed up 12 percent to N8.673 billion in 2013 audited year end from N7.742 billion reported in the same period of 2012